SanFrancisco-based financial services company Square has announced the appointment of Jacqueline Reses, outgoing chief development officer of Yahoo, as its head of its business financing division Square Capital. Square is in the process of going for an initial public offer (IPO). Square wants to send a message to the capital market that how strong is its top managerial board. The hiring of Reses will enable Square Capital to tap potential areas of business growth where traditional business firms ignore.
APAX PARTNERS
Breaking News
Private equity group Apax Partners is considering selling its stake in London-based foreign exchange firm Travelex in the form of a probable initial public offering (IPO), according to two sources.
Private equity companies are buying the debt of the companies they own so they can become creditors and have a second shot at making money on their investments.
Israel-based global buyout firm Apax Partners is planning to raise USD300 million for the country's first private equity fund dedicated to mid-market buyouts, sources familiar with the matter said.
Various private equity firms from the UK, US and Hong Kong are reportedly among those who placed initial bids to takeover Indian business process outsourcing company SourceHOV. Initial bids have valued the BPO firm at USD1 billion.
IK Investment Partners had sold its full ownership in Europe Snacks Group to a French private equity firm Apax Partners for an undisclosed amount and will be completed before the year ends.
United Kingdom-based Apax Partners aimed to become one of the largest equity holders of textbook publishing company Cengage Learning Inc after the latter exits from bankruptcy.
Rhiag had entered into definitive agreements for its acquisition by Apax Partners through its Apax Fund.
Apax Partners raises funds for its latest fund Apax VII.
Private equity deals in Israel grew 49 percent to $1.75 billion in the first half of 2012.
U.S. private equity firm Bain Capital is in advanced talks with the Government of Singapore Investment Corp (GIC) GIC.UL to make a joint bid for a 40 percent stake in IT outsourcing company Genpact (G.N) for $1.5 billion to $2 billion.
Private equity group Apax Partners has led a deal to buy software group Paradigm.
News and developments in Asia private equity from Reuters News for the week ending June 8.
